Jamie Dimon claims AI will not cause major job losses next year — as long as its properly regulated | Latest Tech News
JPMorgan Chase CEO Jamie Dimon supplied an optimistic outlook on artificial intelligence (AI), predicting the technology will not “dramatically reduce” jobs over the next year — offered it’s properly regulated.
Dimon was requested by Fox News’ Maria Bartiromo on “Sunday Morning Futures” what Americans ought to do to put together for this “new revolution that’s underway with AI,” particularly given that the technology is “creating efficiencies to the extent that it is cutting jobs.”
Before answering the query instantly, Dimon prefaced his response by noting that jobs and wages had been weakening even before the rise of widespread AI adoption, and that technology is not to blame for that pattern.
“Look, I don’t think AI is going to dramatically reduce jobs like unbelievably next year. And for the most part, AI is going to do great stuff for mankind, like tractors did, like fertilizer did, like vaccines did — it’ll save lives,” Dimon said.
“Now, of course, it needs to be properly regulated,” he added. “There are downsides to AI, just like there are to airplanes, pharmaceuticals, cars. All things get used by bad people. So assuming that the government figured out some way to put guardrails around AI… but it will eliminate jobs. It doesn’t mean that people won’t have other jobs.”
Dimon was requested by Fox News’ Maria Bartiromo on “Sunday Morning Futures” what Americans ought to do to put together. FOX NEWS
Dimon’s advice to people anxious about AI taking their job is to “learn skills, learn how to be good in meetings, and how to communicate.” StockPhotoPro – stock.adobe.com
The CEO continued, offering his advice for Americans who could also be anxious about AI affecting their careers.
“My advice to people would be, you know, critical thinking, learn skills, learn your EQ, learn how to be good in meetings, how to communicate, how to write. You’ll have plenty of jobs and, if it does happen too fast for society, which is possible, you know, we can’t assimilate all those people that quickly,” Dimon said.
According to Dimon, if the federal government and large firms are initially unable to make widespread AI adoption work for the public, it’s up to those events to work out a plan to section in the technology “in a way that won’t damage a lot of people.”
The CEO reiterated that while some jobs could also be misplaced to AI, the technology can be utilized to “retrain people, relocate people,” and present income help or even early retirement.
Dimon reiterated that while some jobs could also be misplaced to AI, the technology can be utilized to “retrain people, relocate people.” AFP via Getty Images
“The next job may be a better job, but they have to learn how to do the job,” he added, noting again that people with specialised expertise will always be useful.
“It’s going to cause probably more jobs in the short run in total,” he added.
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